In economics,a synonym for satisfaction is
A) utility.
B) marginal.
C) sacrifice.
D) normative.

Question

Quizplus · Accepted Answer

In economics, satisfaction is often referred to as utility, which is the measure of the level of satisfaction or happiness consumers derive from consuming a good or service. It is the subjective value or benefit that consumers receive from a product or service, which determines their willingness to pay for it. Therefore, option A is the best choice. Option B (marginal) refers to the additional benefit or cost of consuming an additional unit of a good or service. Option C (sacrifice) signifies the cost or price paid to obtain a good or service, while option D (normative) pertains to a statement that expresses an opinion, rather than a fact, on what should or ought to be.

In Economics,a Synonym for Satisfaction Is